How to trade binary options with IQ Option in Nigeria Year 2020

Best Binary Options Brokers 2020:
  • Binarium

    Best Binary Broker!
    Perfect for beginners!
    Free Demo Account! Free Trading Education!

  • Binomo

    Only for experienced traders!

How to trade binary options with IQ Option in Nigeria? Year 2020

Trading Binary options is a fantastic investment opportunity to get into when you’re looking to make short term investments that yield a great profit. As a Nigerian trader, trading in binary options in Nigeria would require that you get to know the best brokers that have a good history with Nigerian traders.

If you’re a beginner, you would find this guide more useful though as the basic knowledge required for trading will be shared as long as other relevant resources that would be fundamental to your binary options trading education and investment.

Here’s what you would learn from this guide:

What are Binary Options?

Top Binary Options Brokers in Nigeria

How to Start Trading Binary Options

Types of Binary Trades

Binary Options Trading Strategies

Pros of Trading Binary Options

Best Binary Options Brokers 2020:
  • Binarium

    Best Binary Broker!
    Perfect for beginners!
    Free Demo Account! Free Trading Education!

  • Binomo

    Only for experienced traders!

Cons of Trading Binary Options

What are Binary Options?

A binary option is a type of option with a fixed payout in which you predict the outcome from two possible results. If your prediction is correct, you receive the agreed payout. If not, you lose your invested capital, and nothing more. It’s called ‘binary’ because there can be only two outcomes – you either make a profit from your investment or you lose the entire capital. There is no middle ground.

The main difference between more traditional stockbroker trades and binaries is the clear identification of risk and reward before the trade is made. An investor knows exactly how much is at risk, and crucially, also knows the exact value of any potential returns. No calculator, formula, or maths degree is needed to work out profit and loss on a binary option.

The profit from binary options is usually between 75% to 95% of trading capital depending on the broker and the trade in particular.

Here’s a short video showing the basics of trading binary options, we’ll get into more details in the “How to Trade Binary Options in Nigeria” section.

Top Brokers in Nigeria

Here’s our list of the best binary options brokers that are favourable to the Nigerian Trader. We’ve taken factors like licensing, payouts, over the counter or exchange-traded options, minimum deposit (plus deposit and withdrawal methods), minimum trade / maximum trade, charting tools (graph types, forecasting tools), expiry times available,regulation (FCA, CySec, CFTC etc), and customer feedback to select the online trading platform you should be trading with.

Top Recommended Binary Options Broker


Minimum Deposit (₦)


Get Started with IQ Option

This broker has been hand-picked by us as the best binary options broker to trade with as a Nigerian trader.

How to Start Trading Binary Options in Nigeria

Below is a step by step guide to placing a binary trade:

  • Choose a broker: The first thing you have to do is create an account with an online broker.
  • Make a deposit: Deposit the amount you’re willing to use in your trade. It is to be noted that many brokers have a minimum deposit before you’re allowed to trade actively.
  • Select the asset or market to trade: Assets lists are huge, and cover Commodities, Stocks, Cryptocurrency, Forex or Indices. The price of gold, or Google’s stock price, for example.
  • Select the expiry time: You have to select the time at which you want your prediction to be assessed. Options can expire anywhere between 30 seconds up to a year.
  • ClickCall / Put or Buy / Sell: This is the part where you choose to buy or sell an asset. Call is the same as buy and put is the same as Sell. If you predict that the value or price of an asset will go up, you choose to buy but if you predict a decline, you choose to sell.
  • Check and confirm the trade: Many brokers give traders a chance to ensure the details are correct before confirming the trade.

Types of Binary Options Trade

  • Up/Down Options

An Up/Down option can go by a few different names: High/Low, Above/Below, and Over/Under. It is the simplest and most common type of binary option. Up/Down Binary Option Traders simply purchase a “call” option if they believe that the closing price will be above the strike price when the contract expires, or buy a “put” option if they think that market will close below the strike price at expiration.

At this point, we need to explain what the strike price means

The strike price of an option is the fixed price at which the owner of the option can buy (in the case of a call), or sell (in the case of a put) the underlying security or commodity.

  • One-Touch Options

One-Touch option requires that the market price touches the strike price at least once during the option contract period for it to be profitable. With One-Touch option, it doesn’t matter if the market is above or below your strike price at the expiration time.

  • No-Touch Options

This is literally the opposite of One-Touch option. No-Touch trades require that the market price does not touch the strike price during the life of the contract for a trader to make profits.

  • Double Touch/Double No-Touch

They are just like Touch/No-Touch options, only with two strike prices. The asset’s price has to touch (or not touch) two different levels for a trader to win the trade.

  • Range Options

For In Range trades, the market price must stay within a predetermined range and avoid touching the two strike prices within the option period in order for your trade to be in-the-money.

Some brokers offer Out of Range options where traders can profit if price breaks out of the predetermined range within the option period.

Before we proceed to touch on the strategies one by one, it is important to grasp the idea behind sticking to a strategy or two in the first place. Strategies help in filtering out emotional-based decisions from decisions based on pre-defined parameters that are developed with clear thinking.

A clear trading strategy is also important in pattern formulation and repetition. This helps in being able to replicate similar results on multiple trades over time. Asides the pattern recognition, having a well thought of money management strategy will help you gauge your appetite for risk.

Money management strategy will help you manage your balance so you can get through bad patches and maximize winning streaks.

Moving on to a couple of binary options trading strategies, we have:

  • The Trend Strategy

From its name, the trend strategy places a major priority on monitoring the rise and fall of trend lines of the traded asset. The goal is to spot a trend from the market and make a decision to call/put an asset, based on information from recent previous trends.

  • Pinocchio strategy

This strategy is utilized when the asset price is expected to rise or fall drastically in the opposite direction. If the value is expected to go up, select call or buy and if it’s expected to drop, select put or sell.

  • Straddle Strategy

This strategy is best applied during market volatility and just before the break of important news related to specific stock or when predictions of analysts seem to be afloat.

This strategy involves selecting the buy or call option as well as the put or sell option one after the other depending on how you see an asset moving. An example is to use the put or sell option on an asset when the value or price is high with the hope that it will soon drop in value or price.

When the drop happens, you place the call or buy action to get back the asset with the insight that it will go back up in value. The opposite of this can be done when an asset is initially at a lower value and is expected to rise then fall back down again. The entire point of this is to increase a trader’s chances of making a profit when an asset is very volatile and sharply keeps fluctuating in value

  • Risk Reversal Strategy

This strategy is executed by placing call and put options simultaneously on an individual underlying asset. This is especially beneficial when trading on assets with fluctuating values. Since it’s known that binary options can yield profit from one of two outcomes, predictions are made on the two possible outcomes to guarantee at least one profitable outcome.

  • Hedging Strategy

This strategy is mainly used by large corporations that trade binary options, investors and traditional stock-exchange as a means of protection and to minimize the associated risks. This strategy places both the call and put options on the same asset so as to be assured of profit regardless of the direction the value of the assets goes, be it up or down.

  • Fundamental Analysis

The fundamental analysis binary options strategy is usually adapted when trading the stock of a company. This strategy involves carrying out an in-depth review or analysis of the financial history, earning reports and market share of a company. The aim is to understand the financials of this company so as to make a prediction for the future under similar financials circumstances.

Pros of Trading Binary Options

  • Simple Trading

Binary Options Trading has been made simple by brokers such that it only takes minutes from your time of initial deposit to trading assets. All you have to do is select the amount for trading, select the direction you anticipate the market price of your asset to move to, select the expiry time and then wait for the outcome. It’s not complicated at all.

  • Low Investment

Binary Options brokers in Nigeria and other parts of the world have made it pretty easy to get into binary options trading with low capital. Some brokers have even lowered the initial deposit to $10 (₦3,700) so as to encourage new traders to start investing.

  • Extensive collection Of Assets

While trading binary options in Nigeria, you get to choose from a host of assets like every other trader in the world. The common asset types traded are currencies, stock, commodities, and Indices. Currency trading is similar to Forex and it involves the prediction of one currency’s value against the other. Stocks trading in binary options has to do with trading on the rise or fall of the perceived market value of a company. Trading on commodities involves the prediction of the value of popular commodities like gold, silver, and oil. Indices combine various stocks together to reduce a trader’s risk of losing it all if one of the combined stocks fails with the hope that the success from others will make up for it.

  • Fixed Risk and Reward

You get to know you much you stand to gain by investing a particular amount on an asset at the beginning of your trade. This way you’re able to know what you stand to gain or lose upfront. Expiry times for binary options are much shorter compared to more traditional financial trading methods. They can range from 15 mins up to a week whereas more traditional forms are usually held longer for up to months or years before you see any return on them.

You place binary options trades at any time of the day every day. Brokers now also have mobile apps that allow you to trade on the go.

Cons of Trading Binary Options

  • Regulation

Regulation in the binary options industry is somewhat of a gray area. That’s why some unscrupulous platforms have taken advantage of unsuspecting newbie traders. These platforms have made it difficult for traders to earn any significant profit through manipulation of data and payout difficulties. This is why we’ve only recommended trusted binary options brokers for you.

Binary options trading in Nigeria is risky due to the potential of losing your entire investment in one trade. It’s advised that you start trading with a demo account as provided by the broker before proceeding to trade live.

5 Best Binary Options Trading Platforms in Nigeria + Free Signal Provider

Binary Options trading is one of the fastest and easiest ways to make money trading. You can literally grow $100 to $3,000 within 3 minutes as can been seen in the video at the end of this post. But also, you can lose all the $100 within 5 secs. That is why it is always advice you start with a demo account, learn how to trade before depositing your own money.

However, the question most Nigerians ask is not on winning or losing but on how reputable or trustworthy the digital options trading platforms are on paying when winnings are made. A lot of people have also complained about the difficulty of making deposit and withdrawal. This is where I have got your back. I have personally researched 17 binary options trading companies; spoke with their customer care, deposited, traded and withdrawn from 6 of them to come up with the list of the best 6.

So here are the top 6 binary options trading brokers in Nigeria. I also have a bonus for you at the end of this post on options strategies, Options signals and robot


Minimum Deposit

Minimum Trade Amount

Overall rating


Minimum Deposit

Minimum Trade Amount

Overall rating


Minimum Deposit

Minimum Trade Amount

Overall rating


Minimum Deposit

Minimum Trade Amount

Overall rating


Minimum Deposit

Minimum Trade Amount

Overall rating

Review Coming Soon

Top 5 Binary Options Trading Company in Nigeria

Ip Options.

IQ Options is an all-inclusive trading platform that has in recent years dominated the market, especially in Europe. This platform at its inception started by offering Binary options Services. However, it has now upgraded to include other types of trading including Cryptocurrencies trading, stock CFD, Digital options and ETFs.

In my opinion and that of many users, Iq options have the most beautiful and easy to use ‘trading interface’. If you are new to trading, you can practice with the demo account; this is preloaded with a replenishable $10,000. However, to withdraw your earnings you need to open a real account and fund it. The minimum deposit is $10 and you can trade with as little as $1.

The problem you might witness when using Iq options is that the web browser based trading room might take a long time to load especially if your internet connection is slow. However, it is very efficient once it has loaded. to bypass this loading problem, it is best you download the desktop app.

Iq option has a very responsive 24/7 customer support, there are various ways to make and withdraw fund from Iq options. It is also regulated and registered in Europe that is why it’s making my top 5 list.

warning: You capital might be at risk

Expert Option.

‘Expert Option’ a is binary options trading company that is registered in Saint Vincent and Grenadines. This options broker is certified by IFMRRC (International Financial Market Relations Regulation Centre) and is authorized and regulated by Vanuatu Financial Service.

The User Interface is simple and straight to the point. Let me rephrase; Expertoption User interface is among the best I have seen, it is as good if not better than iq options user interface. But unlike iq options, expert options browser-based trading room loads fast. You can open 2 trades at once and navigate through them seamlessly without losing sight of any of them.

The downside to expert option is that it does not have a wide range trading time. Its trading times are 1 minute, 2 minutes, 3 minutes, 4 minutes and 5 minutes. This is unlike most digital options brokers that have a trading time from as little as 5 seconds to as high as 24hours. However if you are like me that trades mostly the 1 minutes time range this should not be a problem to you.

You can make deposit and withdrawals from this broker in about 20 methods depending on your country, this includes; WebMoney, Neteller, Perfect Money, Skrill, Credit/Debit card, SWIFT transfer, Yandex Money, Qiwi, SMSpayments, Skrill, Fasapay, WeChat, Union Pay, etc.

Personally, I prefer to make a deposit using WebMoney. I have learnt not to use the Credit/Debit card. This is because most options broker processes withdrawals using the same method through which deposit was made but usually have problems a crediting naira Credit/Debit card. So I suggest you create a WebMoney account. You can fund and withdraw from your WebMoney account via instantgoldng.

Expert Option has a demo account loaded with $10,000 for you to try out the platform, you do not even need to register to use the demo account. Just visit and start trading. The minimum deposit in this platform is $50.

One other thing I like about this broker is that it has a lot of training materials and 8 indicators to help improve your trading strategies.

It also has a responsive customer support available 24/7 to attend to your queries.

This is one of the very first and one of the most popular Binary options trading platforms. They have been active since the year 2000. I have not made a deposit or withdraw from this platform before, I have only tested its demo account. However, from my research, most of the reviews I have seen are positive with some few negative once. have been around for a long time now and are regulated by multiple agencies in the UK since 2020. They have about 1.6 million monthly active users. Their deposit and withdrawal methods have also been expanded to include deposits in Bitcoin BTC, Ether ETH and Litecoin LTC.

Update Feb. 2020: I have now made a deposit and withdraw to this platform through my Neteller account, the process was smooth.

The minimum deposit on is $5.

Alpari Binary Options

Alpari Just celebrated its 20 th anniversary. This company have been in this game for so long that you cannot doubt their integrity and Reputation. Alpari is registered, regulated and has branches in over 150 countries. In Nigeria, its office is in Lagos and Abuja. You can fund your Alpari account using 9 methods including deposit in Bitcoins. You can withdraw using 4 methods, my most preferred being withdrawal method is to my bank account. My money always arrives in my bank account within 2 working days.

Traders can trade over 34 markets in Alpari Binary options trading. Trading is not also limited to weekdays like with other brokers as you can trade crypto pair during weekends. If you are new to binary options, you can try out the Alpari Binary options demo account. You can see this in the binary option page, you don’t need to login or create an account to use the demo platform. The demo platform is preloaded with $10,000 however, any money you make here cannot be withdrawn unless you open a real account, make deposit and trade.

If you have any questions or difficult when trading in Alpari, you can chat with the customer support or call them 24/7.

Alpari does much more than Binary Options. You can also trade CFD, forex and invest in PAMM account in Alpari. As a matter of fact, Binary options is the least of its focus. I greatly recommended you read my review on Alpari to see how you can consistently make 20% – 200% ROI each month investing in Alpari.


Spectre is the first Brokerless decentralized trading platform built on the Ethereum Blockchain. Let me Elucidate; when you create an account with other platforms, you will deposit money into their account to trade trusting that they don’t run away with your money and also trusting that they always pay you your money on time when you make a withdrawal request. You don’t need to trust anyone on Spectre because it is built on the Ethereum blockchain. All you need do is to open an Ethereum wallet on the spectre platform fund it and trade directly from your wallet. Since its your wallet, it means that only you have access to the fund in it, even the spectre team cannot access your wallet. It also means that you can only trade binary options on this platform using the Ethereum Ether (ETH).

There is a 24/7 live support on this platform to answer your queries. The minimum deposit on Spectre is $10 in Ethereum. You can withdraw this instantly any time you want. In my opinion, on Spectre is the safest Platform since only you have access to your funds. I will be surprised if you don’t open a spectre account.

Conclusion – Which is the Best Binary Options Company in Nigeria.

This really depends on what you want really. They all have their strength and weaknesses which is relative to the location of the user. If you are in Nigeria Alpari is the easiest options broker to make a deposit and withdraw funds in Naira. With Spectre, you have full control of your fund and highest possible return however you have to know how to send, withdraw and convert Ethereum to Naira and back. (I have you covered here). Iq options, Expert option offer the best trading interface. have the smallest deposit amount.

My personal preference is iq options.

As you can see, all of these platforms are reputable and I have personally tested 5 of them in terms of withdrawal, deposit, customer care response and ease of use. So, feel free to use anyone. However, know that trading ‘Binary Options‘ is risky as well as rewarding, you can lose all your capital. Make sure you know what you are doing before putting your money.

Bonus: – Binary options Signals and Strategies.

Most Binary options signal services out there either demand too much for the service and yet do not deliver or are outright Scam.

So I have partnered with one of the best Binary options traders to provide a signal service. This signal service is designed to help you generate a guaranteed monthly income by trading Binary Options professionally. The service will be delivered Daily (Monday to Friday) Through our Facebook Messenger Channel.

However, we are still working on this service, it will be ready by August 2020. If you are interested in this service, Join the Facebook messenger channel now and you will be notified on FB messenger once the service is ready.

Now for the video, I talk about in the beginning, click here to watch

If you enjoy reading this review, please share with your friends on social media using the buttons below.

Trading Binary Options carries a high level because you cannot really predict the direction of the market this can work both to your advantage and disadvantage. As a result, Binary Options may not be suitable for all investors because it is possible to lose all of your invested capital. You should never invest money that you cannot afford to lose. Before trading, please ensure to understand the risks involved.

7 Binary Options

The Basic Tools for Successful Binary Trading

Binary options are complex, exotic trade options, but these are particularly simple to utilize and understand the way they work. The most familiar type of binary option it the high-low option and it’s relatively simple to comprehend. This technique is also referred to as the fixed-return option and provides access to commodities and foreign exchange, indices and stocks.

Trading with binary options is easy, and you do not need any previous experience. Below are some basic guidelines that we have compiled to help you start trading in a few minutes.

  1. To be a successful binary options trader, you need to use more than one broker. Choose one or more from our compiled list of brokers.
  2. Register with your chosen trading platform and deposit money to start trading. The minimum deposit for some trading platforms or binary options robots is only $ 100.
  3. Select the asset to trade. Trading platforms have assets such as currencies, indices, commodities, and stocks. You can choose to trade in currencies, the popular one being EUR/USD.
  4. Decide on the amount to invest. When investing in an asset, you will see the payout or the returns for the asset, which can go up to 91%. Make your prediction on the movement of the price of the asset. If you predict the price of the asset to rise, select Call (up). If your prediction is that the price will fall, select Put (Down).
  5. When the trading closes after the given time, for example after 60 seconds, if it is a 60 seconds investment and you have made the correct prediction, then you win. An investment of $ 100 with a 90% payout means that you will have made 90 dollars in a few minutes.
Best Binary Options Brokers 2020:
  • Binarium

    Best Binary Broker!
    Perfect for beginners!
    Free Demo Account! Free Trading Education!

  • Binomo

    Only for experienced traders!

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How To Choose Binary Options Broker
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